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Cognex Q2 Earnings Call Highlights
['Michael Walen']
Markets Daily
Revenue increased 17% year over year, or 16% on a constant-currency basis, reaching a record quarterly level.
Americas revenue increased 27%, though the region benefited partly from electronics customers placing orders through U.S.-based entities rather than European entities.
For the third quarter, Cognex expects revenue of $300 million to $320 million, representing roughly 12% year-over-year growth at the midpoint.
Cost Actions and Margin FactorsAdjusted gross margin increased 350 basis points to 71.5%, aided by favorable mix and volume.
The market currently represents a low-single-digit percentage of Cognex revenue but is growing more than 30% year over year, according to Moschner.